Bank Respublika and Access Bank are merging!

Bank Respublika and Access Bank are beginning the merger process. Under the transaction, existing shareholders of Access Bank will acquire newly issued preferred shares representing 25% of Bank Respublika’s share capital, becoming shareholders of the bank.

Following completion of the share acquisition, both banks will initially continue operating separately. At a later stage, the banks will be merged into a single entity in accordance with relevant regulatory requirements.

The banks are said to have similar business models and corporate cultures, with a particular focus on supporting micro, small and medium-sized enterprises. The merger is expected to create a new financial institution with a broader operating scale, stronger financial capacity and a stronger market position.

The combined bank is expected to have total assets of AZN 4.5 billion and a loan portfolio of AZN 3.3 billion. The parties emphasize that the transaction will support the banks’ future development and growth.

Shakir Rahimov, Chairman of the Supervisory Board of Bank Respublika, described the move as an important step in the bank’s development. Oleg Ivaniychuk, Chairman of the Supervisory Board of Access Bank, said the merger would create a strong foundation for future growth and expansion of operations.

Customers, partners and other stakeholders will be regularly informed about the progress of the acquisition and merger process. According to the parties, the process will be carried out with the support of the Central Bank of Azerbaijan and within the regulatory framework. International financial institutions are also expected to participate as shareholders in the new structure. This step could expand competition and opportunities in the banking sector.